How can you withdraw EPF funds from an ATM? Learn the complete step-by-step process in an easy way.

Every month, both the employee and the employer deposit a portion of their salary into the EPF account. This amount gradually increases, creating a substantial fund for retirement.

The Employees' Provident Fund (EPF) is a reliable savings instrument for most working people in India. This scheme is run by the government and aims to provide a secure fund after the employee ends their job or retires, preventing future financial difficulties. Every month, both the employee and the employer jointly deposit a portion of their salary into the EPF account. This amount gradually increases, creating a substantial fund for retirement.

While withdrawing EPF funds was previously a bit difficult, the EPFO has now amended the rules. Under the new rules, withdrawing EPF funds has become much easier than before. All you need to do is apply online on the EPFO portal, and the rest of the process is completely digital. The money is deposited directly into your bank account, which you can then withdraw through an ATM or online transfer. So, let's learn how to withdraw EPF funds from an ATM.

What is EPF, and how does it work?

EPF, or Employees' Provident Fund, is a government scheme in which you and your company contribute monthly. It's based on your principal amount of salary. This amount is deposited in your name in the EPFO and grows with interest. You can withdraw it when you retire or change jobs. But now, this scheme is no longer limited to retirement; you can also make partial withdrawals if needed.

Before withdrawing EPF funds, your UAN must be active, your bank account must be linked to your PF account, your Aadhaar and PAN numbers must be updated on the EPFO portal, and your mobile number must be linked to your Aadhaar to receive an OTP. If all this information is correct, withdrawing EPF funds becomes very easy.

How to withdraw EPF funds from an ATM: The complete step-by-step process

1. Login to the EPFO portal - First, go to https://unifiedportal-mem.epfindia.gov.in/memberinterface/.

2. Click on Online Services - After logging in, go to the Online Services menu and select the Claim option.

3. Verify bank account details - Here, you will see your bank account linked to PF. If the details are correct, click on Proceed for Online Claim.

4. Select Form 31 and provide the reason for withdrawal - Now, select PF Advance. Here, you will need to provide the reason, such as medical emergency, marriage, education, house construction, etc., and then enter the amount you wish to withdraw.

5. Upload the required documents - In some cases, a scanned copy of the bank passbook or a cancelled check will need to be uploaded. Therefore, ensure that the documents are clear and correct.

6. Verify with Aadhaar OTP - Now, click on Get Aadhaar OTP. An OTP will be sent to the mobile number linked to your Aadhaar. Enter it and submit your application.

7. Withdraw your money from an ATM or online - Your application will be verified by an EPFO official. If everything is found to be correct, the money will be transferred to your linked bank account within 3 to 7 days. Once the money is credited to your bank account, you can withdraw it by ATM card, net banking, or mobile banking, or withdraw cash directly from the bank.